Glenmede Trust Co. NA Buys 314 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Glenmede Trust Co. NA grew its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,680 shares of the company’s stock after purchasing an additional 314 shares during the period. Glenmede Trust Co. NA’s holdings in L3Harris Technologies were worth $5,157,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in L3Harris Technologies during the second quarter worth about $210,886,000. Envestnet Asset Management Inc. increased its holdings in L3Harris Technologies by 236.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after purchasing an additional 695,582 shares in the last quarter. Bank of New York Mellon Corp raised its position in L3Harris Technologies by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after purchasing an additional 523,315 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in L3Harris Technologies by 65.2% in the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after purchasing an additional 171,420 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after purchasing an additional 169,878 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $246.25 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $46.71 billion, a P/E ratio of 38.90, a PEG ratio of 2.05 and a beta of 0.72. The business has a 50-day moving average of $246.22 and a 200-day moving average of $234.15. L3Harris Technologies, Inc. has a 1 year low of $188.95 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.19 earnings per share. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.88%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Citigroup upped their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $269.67.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. The trade was a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 8,964 shares of company stock valued at $2,179,119. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.